WASHINGTON, Sep. 09 /CSRwire/ - Twenty-eight leaders representing business, investment, government, academia, and labor joined the Aspen Institute Business & Society Program's Corporate Values Strategy Group (CVSG) to endorse a bold call to end the focus on value-destroying short-termism in our financial markets and create public policies that reward long-term value creation for investors and the public good.

The statement, "Overcoming Short-termism: A Call for a More Responsible Approach to Investment and Business Management," identifies three leverage points for encouraging a renewed focus on long-term value creation and for addressing one part of market short-termism, shareholder short-termism:

Ira Millstein commented that he joined this diverse group to help move discussion about reform beyond "pious wishful thinking, to the core issue in our market economy - how to incentivize capital to go long term." He adds, "The current system cannot achieve that result. The proposals presented in our statement are intended to place this issue front and center and to engender serious, realistic debate."

I read this closely and I think it is more of a call for to quell the short term gains compaines strive for with making these complex products and different ideas to make the money today instead of tomorrow. It also states that with respect to corporations, excutives and what not. Not so much having to do with short term individual investing or trading

The Aspen statement calls for boards, managers, and "most particularly, shareholders" ... institutional investors .. to shift their focus to long-term goals and not push for "high-leverage and high-risk corporate strategies designed to produce high short-term returns."

On at least a weekly basis i`m talking with 3 gentlemen with a combined 120 years on Wall st. 2 are very well respected research analystswith published notes going back decades and one PM who trounces the $spx year after year with low volty. The conversation came up with all of them at lately about a "trader tax" and high freq trading. All of them told convincing stories of why they think the current trends in investing are destructive.

After the first conversation I dismissed it as "the old guy cant hang with changing mkt conditions". After the second I nodded my head politely and thanked him for the valuable insight. After the third guy (and my best client) gave me his point of view I started to ponder their arguments.

Not to get all long winded here, but the basic gist of it is they feel that the stock market is for creating capital to grow American business, and allow the positive benefits of trickle down economics to play out and not for capturing beta on a micro level by few players(relatively speaking...trading is a tiny community).

Agree or disagree, I dont care. But i`m listening to both sides of the argument closely with an open mind.

I read this closely and I think it is more of a call for to quell the short term gains compaines strive for with making these complex products and different ideas to make the money today instead of tomorrow. It also states that with respect to corporations, excutives and what not. Not so much having to do with short term individual investing or trading

So, you think it's OK for the government to dictate how you invest? What next? Will we receive a list of appropriate stocks to own as well? And who do we sue when we hold a stock for 3 years as it drops 90%?

Quote from indahook:

On at least a weekly basis i`m talking with 3 gentlemen with a combined 120 years on Wall st. 2 are very well respected research analystswith published notes going back decades and one PM who trounces the $spx year after year with low volty. The conversation came up with all of them at lately about a "trader tax" and high freq trading. All of them told convincing stories of why they think the current trends in investing are destructive.

After the first conversation I dismissed it as "the old guy cant hang with changing mkt conditions". After the second I nodded my head politely and thanked him for the valuable insight. After the third guy (and my best client) gave me his point of view I started to ponder their arguments.

Not to get all long winded here, but the basic gist of it is they feel that the stock market is for creating capital to grow American business, and allow the positive benefits of trickle down economics to play out and not for capturing beta on a micro level by few players(relatively speaking...trading is a tiny community).

Agree or disagree, I dont care. But i`m listening to both sides of the argument closely with an open mind.

Your right Sohpiekay, I apologize, I read the article not the full document. Anyways, it was just on CNBC and it sounds like the guy , who is chairman of Exxon Moible compensation board, was talking about it. He I think was a part of this document, but its a very lofty goal. He was talkin about more corporate things, and didnt mention any excise tax. The prolonged captial gains tax would be a good idea. This guy wanted to do away with quarterly earnings reports and what not, wants to change the whole way things are done seems like.